TransAct Energy Signs MOU for $25 Million Financing
(firmenpresse) - SAN ANTONIO, TEXAS -- (Marketwire) -- 07/11/12 -- TransAct Energy Corp. (PINKSHEETS: TEGY), an innovator in sustainable energy production, is reporting a memorandum of understanding that will provide the company with a twenty-five million dollar financing. Rod Bartlett, President, stated, "The company signed the MOU with Alfra Developers of San Antonio, TX, over 90 days ago but is announcing it today because it is now considered material, as the terms for the funding have been tabled."
TransAct has arranged this financing against a real estate asset controlled by one of Alfra's principals and, in turn, will receive one third of the loan, less financing fees. TransAct has arranged for a $90 Million dollar financing subject to final approvals. After all agreed disbursements TransAct Energy will net just over twenty-two million ($22 Million) dollars. The funds will be repaid over five (5) years, with eight (8%) percent interest on any outstanding principal. The company will be responsible for repaying just over $25 Million Dollars.
"This is a significant milestone for TransAct Energy, giving us the ability to complete on several sustainable energy technologies," said Simon Thomas, TransAct's Chief Financial Officer. This funding will form the foundation for our company opening the door for further funding to build out our first major project and revenues."
About Alfra Developers Limited
Alfra Developers is a San Antonio Real Estate Development company focused on commercial and residential real estate developments in Texas and Mexico.
About TransAct Energy Corp.
TransAct Energy Corp. is a Nevada-organized company trading on the OTC Pinks as TEGY. Their business is the development, production, management and conservation of energy through sustainable projects. TransAct's focus is emissions-free energy produced from carbonaceous waste.
Visit TransAct's new website or follow them on Twitter at transactenergycorp(at)transactenergyc.
Contacts:
TransAct Energy Corp.
Rod Bartlett
President & CEO
210-888-0785
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Datum: 11.07.2012 - 08:20 Uhr
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News-ID 1132157
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